Bluehill Incubator Launched Today To Support The IOST Blockchain Ecosystem

A startup incubator for global blockchain programs Bluehill started  on Thursday after lifting $50 million to assist the IOST blockchain ecological system.

The company mentions in a press release that it is currently accepting in applications from startups on a moving basis and on ordinary invests $500,000 into a program with “both seed investments of $100,000 and follow-on investments in the low millions.”

Especially, the startup states it will operate with Binance Labs and Huobi Capital when doing investments in companies.

Although its asset will be used to back startups – involving their finance, marketing, and acquisition needs – that are built on the IOST ecosystem, Bluehill told in an email that it is “open to all projects irrespective of whether they’re presently building on IOST.”

The company indicated: “Our focus is on backing the best teams early and aligning our interests with theirs right from the start so that we can build trust and familiarity with the most enduring companies.”

Pursuant to the statement, Bluehill has invested in seven decentralized application programs. In fact among them, six are lined on the IOST blockchain while the other one is creating its own blockchain protocol.

Started in 2017, the IOST protocol appears to ensure a scaled blockchain network for the Internet of Services.

The draft has acquired help from famous investors in China, such as Sequoia China, ZhenFund, Huobi, crypto wallet provider Bixin and INBlockchain.

Bluehill mentioned it at present has around 50 personnel with offices in Beijing, Seoul, Singapore , Berlin, and San Francisco and aims to expand to over 100 employees by the end of this year.